Expensify, Inc. (NASDAQ:EXFY) Major Shareholder Steven J. Mclaughlin Acquires 135,158 Shares

Expensify, Inc. (NASDAQ:EXFY) major shareholder Steven J. Mclaughlin bought 135,158 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $1.50 per share, for a total transaction of $202,737.00. Following the completion of the transaction, the insider now directly owns 8,989,644 shares of the company’s stock, valued at approximately $13,484,466. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Expensify Stock Up 3.1 %

NASDAQ:EXFY traded up $0.05 on Friday, reaching $1.64. 809,627 shares of the company’s stock traded hands, compared to its average volume of 641,647. The stock has a 50-day simple moving average of $1.81 and a 200-day simple moving average of $2.17. The firm has a market cap of $115.75 million, a PE ratio of -3.22 and a beta of 1.49. Expensify, Inc. has a 12 month low of $1.40 and a 12 month high of $8.64.

Expensify (NASDAQ:EXFY) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Expensify had a negative net margin of 27.70% and a negative return on equity of 41.91%. The business had revenue of $35.20 million for the quarter, compared to the consensus estimate of $36.85 million. During the same period in the prior year, the business earned ($0.04) earnings per share. Expensify’s revenue was down 19.1% compared to the same quarter last year. On average, equities analysts anticipate that Expensify, Inc. will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Expensify

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Expensify by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 46,958 shares of the company’s stock worth $825,000 after purchasing an additional 1,123 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Expensify by 117.8% in the third quarter. Royal Bank of Canada now owns 2,178 shares of the company’s stock worth $33,000 after purchasing an additional 1,178 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Expensify by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 72,991 shares of the company’s stock worth $1,282,000 after acquiring an additional 1,297 shares during the last quarter. UBS Group AG bought a new stake in Expensify during the third quarter worth approximately $56,000. Finally, State of Wyoming boosted its position in shares of Expensify by 63.5% during the second quarter. State of Wyoming now owns 11,072 shares of the company’s stock valued at $88,000 after buying an additional 4,302 shares during the period. 68.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their target price on Expensify from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Expensify currently has a consensus rating of “Hold” and an average price target of $6.50.

Expensify Company Profile

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company's platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.